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sois) security (62%. You ue hired at the rate and have worked ausal of uhmaanng

ID: 2574090 • Letter: S

Question

sois) security (62%. You ue hired at the rate and have worked ausal of uhmaanng ai, Federal iasme tax suas income tax Calculalc the anount that you will suke home thes wek (Net Pay' (s points Gruss Pay 4 125 Net Pay "take home 295.52 I, you work over 40 hours, you are paid time and a half ft overtime hours If you worked·total of 44 hours this weck using the same deduction information as above escopt for income taves what would be your take-home pay? Federal Income tas is now $50 and State Income tas is Calculate the amount thit you will take hone this wek Nes Pay Gross Pay Less so, 3.

Explanation / Answer

Gross pay 320 Less: Deductions Social Security taxes 19.84 Medicare taxes 4.64 Medical insurance premium 25 Federal income tax 40 State income tax 4 Total deductions 93.48 Net pay 226.52 2 Gross pay 460 Less: Deductions Social Security taxes 28.52 Medicare taxes 6.67 Medical insurance premium 25 Federal income tax 50 State income tax 6 Total deductions 116.19 Net pay 343.81